Axios, the news website just launched in 2017, has agreed to sell to Cox Enterprises for more than half a billion dollars.
Axios has signed a deal to sell to its most recent lead investor, Cox Enterprises, the companies announced Monday. The cash deal values the company at $525 million, according to sources familiar with the deal.
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The deal, which was signed Sunday, includes an additional new investment of $25 million in Axios' media arm to help the company expand across its local, national and subscription news products.
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Axios is one of a tiny handful of digital news startups that have sold for more than $500 million in enterprise value in the past decade.
Congrats to the Axios guys.
I wonder what Not the Bee could sell for if we were a liberal outlet getting blank-check advertising deals with liberal tech giants?
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